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M.P Cotton Shoots Up Rs 200 on Millers’ Buying Interest

9 Dec 2019 3:10 pm
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Mumbai (Commodities Control) - Firm prices in Desavari mandi pushed Madhya Pradesh Cotton higher by 100-200 Rs/Candy. 11,000 bags arrived in the state mandi on Monday.

Kapas was quoted at Rs 4200-5550, while cottonseed was priced at 2100-2300 Rs/Quintal.

29mm cotton variety is trading at 39,400-39,700 Rs/Candy in the state. Cotton prices, nationwide, have been moving northward, additionally supported by Cotton Corporation of India’s procurement.

Firm prices in global market led to a better sentiment in the market. Optimism regarding a trade deal between United States and China led global cotton trade higher last week.

Meanwhile, on MCX Cotton December futures traded 0.6% higher at 19,250 Rs/bale.

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